Global Wheeled Tractor Machinery Market is segmented By Product Type (Wheeled Tractor (Rotary Tillers, Row Crop Tractors, Implement Carrier, Utility Tractors, Industrial Tractor, Earth Moving Tractor, Garden Tractor, Orchard Type Tractor)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The Global Wheeled Tractor Machinery Market is expected to grow at a CAGR during the forecasting period (2022-2029).
- Wheeled Tractor is specifically designed to transmit at a high tractive effort (or torque) at slow speeds supporting various machinery used in agriculture, construction, and other applications.
What are the critical application segments of the Wheeled Tractor Machinery Market?
- Advancement in tractor technology, the rising penetration rate in emerging economies, and increasing demand for agricultural products are the key factors driving the market for Wheeled Tractor Machinery market.
- However, the high cost of raw materials and lack of maintenance support are hindering the growth of the wheeled tractor machinery market.
Technological Advancements in Tractor Machinery:
- The manufacturers are inventing new technology in tractors which will drive the global wheeled tractor machinery market. For instance, driverless tractors that use GPS maps and electronic sensors have been the latest addition to the Indian agricultural tractor market.
- The John Deere 2025R compact utility tractor is redesigned to provide customers with an easy-to-use, versatile machine designed to tackle a variety of jobs. In Aug 2017, Case IH introduced the world’s first articulated tractor with CVT (Continuously Variable Transmission).
- Based on the type of wheeled tractor the global market for Wheeled Tractor Machinery is broadly segmented as – Garden Tractor, Row Crop Tractors, Orchard Type Tractor, Industrial Tractor, Utility Tractors, Rotary Tillers, Implement Carrier, and Earth Moving Tractor. Utility Tractors, Row crop, and orchard type tractors are the most commonly used tractors globally and hold the largest market share. Utility Tractors are increasingly chosen for their ease of operation and reliability in sports turf projects like golf courses, football, and rugby pitches.
- The global Wheeled Tractor Machinery market is segmented into North America, Europe, Asia Pacific, South America, and ROW. Asia-Pacific is the fastest growing region in the wheeled tractor machinery market due to higher potential with more market penetration in this region.
- North America and Europe together hold the largest market share regarding industrial tractors. Liberalized land policies, government subsidies for mechanization, the inadequacy of farm labor, multiple applications of utility tractors have all contributed to the growth in Asia Pacific region. China and India dominate the Asia-Pacific region, due to high agricultural activities recorded in these countries.
- The wheeled tractor machinery industry is highly consolidated and thus results in a highly competitive environment. Continuous product and technological development.
- The principal competitors in the market are actively seeking to launch new technology in the wheeled tractor to improve existing machinery. The players are also focusing on strategic collaborations and agreements to expand the geographic footprint and to intensify market competitiveness. Some of the recent developments contributing to the growth of the global wheeled tractor machinery market are:• In Apr 2018, Kubota UK launched the L1361 Compact Utility Tractor, featuring a 36.6hp three-cylinder Kubota D1803-M-E2 engine, manual or three-range hydrostatic transmission and a 38-liter capacity fuel tank for extended periods of use.
- In Aug 2017, Case IH introduced the world’s first articulated tractor with CVT (Continuously Variable Transmission).
Few of the key players in the global Wheeled Tractor Machinery market include –
- AGCO Tractor
- CNH Global NV
- Claas Tractor
- Deere and Company
- Farmtrac Tractor Europe
- Kubota Tractor Corp.
- McCormick Tractors
- Case IH
- Mahindra & Mahindra Ltd.
- The row crop, utility, orchard type tractors hold a dominant share of more than 60% of the global Wheeled Tractor Machinery market.
- Asia-Pacific is the fastest growing market of the universal wheeled tractor. North America and Europe together account for the largest market share of more than 55%.
- The overall market for Wheeled Tractor Machinery will be primarily driven by high demand for improvements in the technology of tractors, rthe ising penetration rate in emerging economies and growing demand for agricultural products.
The scope of the Report
- The report covers epidemiology analysis of critical infectious diseases, the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. The Wheeled Tractor Machinery market is segmented on the product as Garden Tractor, Row Crop Tractors, Orchard Type Tractor, Industrial Tractor, Utility Tractors, Rotary Tillers, Implement Carrier, and Earth Moving Tractor. Based on geography the market is segmented into – North America, South America, Europe, Asia Pacific and the Middle East and Africa.
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